Why world travelers are going cashless

Whether you live to travel or only manage to get away for a couple of long weekends every year, you probably have a bucket list of places to go and sites to see.

Sometimes it feels like there might be too many options.

For some people, it’s adventure travel in Basque Country, exploring the caves of Urkiola, paddle boarding around the Urdaibai Estuary and indulging in world-renowned cuisine; for others, it's a relaxing vacation in Thailand, including a meditation course, spa day and island hopping through the Phi Phi Islands. Either trip would rejuvenate travelers, yet they are quite different from one another. But no matter where you go in the world, there’s one thing that’s the same: People are going cash-free.

Going cash-free saves money

Part of traveling to a foreign country is exchanging money. With new coins and bills in your pocket, you can spend freely, buy souvenirs, meals, whatever you like.

Research shows that 87 percent of travelers have leftover cash after their trips, so most of us have experienced the mad dash to spend your foreign cash before you board your flight home.

But that doesn’t always happen.

Only 29 percent of travelers convert their foreign cash back to U.S. dollars. On average, this leaves $123 on the table.

That’s a costly souvenir.

Not to mention that getting foreign currency before your trip is just one more thing to do in the pre-planning process. And while 72 percent of respondents in the study said they get cash, many of them also admitted that, with the ease of traveling without cash, it was a waste of time. Skip the cash to save time and money by using your Visa credit card internationally. Plus, you can use your Visa card to pay in local currency, you are ensuring you get a competitive exchange rate and aren't stuck with hidden currency conversion fees.

Peace of mind

Even if you’re diligent and always exchange your cash at the end of every trip, one of the biggest perks to traveling without cash is security.

Virtually every traveler worries about leaving their money in the hotel room or losing it in some way or another. There’s no easy way around it: Traveling with cash is stressful, and can impact an otherwise great trip.

Why go through the hassle? Accepted nearly everywhere in the world, travelers can use Visa to make purchases with confidence anytime, virtually anywhere in the world. Unlike cash, your Visa card can be replaced if lost or stolen to provide greater freedom for people to enjoy their travel experiences.

Explore the world differently

For travel enthusiasts looking to explore the world cash-free, The Visa Cashless Challenge: International Travel Edition Search will send one lucky winner on a cash-free adventure across the globe. Visa has partnered with Arden Cho (@arden_cho) and brothers Alex and Marko Ayling (@TheVagaBrothers) to create two unique trips that will show the winner what it’s like to travel the world cash free.

The winner of the challenge will choose between a relaxing trip to Thailand or an adventurous journey through Spain’s Basque Country. The winner will have the opportunity to decide between destinations, but once they do, will experience firsthand the ease of traveling cashless in the 21st century, and receive pro-tips on how best to document their journey along the way.